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Angie's List, Inc.
Type of business Public
Traded as NASDAQ: ANGI
Founded 1995
Headquarters Indianapolis, Indiana
Founder(s) William S. Oesterle, Angie Hicks
Key people Thomas R. Evans, Chairman
Scott Durchslag, CEO
Angie Hicks, CMO
Industry Internet
Services Online marketplace, Review site
Revenue Increase US$344.125 million (2015)
Operating income Increase US$13.258 million (2015)
Net income Increase US$ 10.243 million (2015)
Website www.angieslist.com

Angie's List is an American home services website. Founded in 1995, it is an online directory that allows users to read and publish crowd-sourced reviews of local businesses and contractors. Formerly a subscription-only service, Angie's List added a free membership tier in July 2016.

For the quarter ending on June 30, 2016, Angie's List reported total revenue of US$83,000,000 and a net income of US$4,797,000. On May 1, 2017, The Wall Street Journal reported that IAC planned to buy Angie's List. The new publicly traded company would be called ANGI Homeservices Inc.

William S. Oesterle and Angie Hicks founded Angie's List in 1995. The idea resulted from Hicks's search for a reliable construction contractor in suburban Columbus, Ohio, on behalf of Oesterle, a venture capitalist who was Hicks's boss. Hicks moved to Columbus to join Oesterle in creating Columbus Neighbors, a call-in service and publication with reviews of local home and lawn care services. The name and concept were based on Unified Neighbors in Indianapolis, Indiana. Hicks went door-to-door, signing up consumers as members and collecting ratings of local contractors.

After Hicks recruited over 1,000 members in Columbus within one year, she turned to Oesterle to raise money from investors to develop the business. In 1996, the company bought Unified Neighbors from its creator and moved the company's headquarters to Indianapolis.

By 1999, the database of local services and reviews was moved to the Internet. In the following years, the customer base and business relationships grew throughout the United States, while expanding coverage to include additional services, such as health care and auto care.

In 2013, Angie's List had over 70,000 subscribers. In August 2015, it reported 3.2 million paid members.

In the midst of stagnated growth and after having passed an offer to be acquired by HomeAdvisor, new Angie's List CEO Scott Durchslag diversified the company's business to include the online recruitment of contractors (thus making the service a direct competitor to HomeAdvisor). Additionally, in July 2016, Angie's List was made a freemium service; the basic membership tier, which includes access to more than 10 million reviews, was made free, alongside subscription tiers offering additional functionality.

Angie's List members grade companies using a report-card-style scale, which ranges from A to F; these ratings are based on the following criteria: price, quality, responsiveness, punctuality and professionalism. Each company has its own page, which is composed of a description of its business along with the customer reviews. The aggregate grade is drawn from the combined reviews and grades given to the businesses from the consumers.

Answering a complaint from a user, David Segal found that when subscribers post a negative review of a company to Angie's List, a staff member discusses it with the subscriber in an attempt to rectify the situation.

According to The Washington Post, in March 2007 SCS Contracting Group sued Angie's List and two members for libel because of negative reviews of the company. One of the sued members remarked, "if [contractors are] able to sue, then the value of Angie's List depreciates.... People aren't going to be willing to submit reviews if they could be threatened with a lawsuit." On October 7, 2008, the plaintiffs dismissed the complaint against the two members. Summary judgment was later granted in favor of all defendants.

In 2014, Angie's List Inc. paid $2.8 million to settle a lawsuit alleging that it automatically renewed members at a higher rate than they were led to believe.

In August 2016, Angie’s List has agreed to settle three lawsuits for a payment of $1,400,000. The class action lawsuits focused on Angie’s List’s acceptance of advertising payments from service providers, and whether those payments affect service providers’ letter-grade ratings, reviews, and place in search-result rankings. Angie’s List denies plaintiffs’ claims, but disclosed that revenue from service providers can affect the order of search-result rankings of the service provider under certain settings. Moore vs. AngiesList.

In 2010, Angie's List raised a total of $25 million in capital from investors. In September 2010, Wasatch Funds and Battery Ventures invested $22 million. In November 2010, Saints Capital led an additional funding of $2.5 million.

On November 17, 2011, Angie's List began trading on the NASDAQ exchange under the ticker symbol ANGI. It priced 8.8M shares at $13 and opened for trading at $18, a 33% premium.

Shares have remained below $13 since March 2014. Before 2015, the company has been dependent on capital infusions from investors to stay afloat. Angie's List had its first profitable year since founding in 1995 in 2015.

In 2013, investors worried that the company had been in business for more than 18 years, yet never had shown an annual profit, and that valuations of the company were unrealistic based on the actual revenue the company produces. But by 2015 growth estimates indicate a significant earnings-per-share growth, with a long-term growth rate at 19%. Combine this with stock estimates rising in 2015 by 13.3%, some Securities research firms such as Zacks Investment Research indicated ANGI is well-positioned for future earnings growth.

On May 2, 2017, IAC/InterActiveCorp, owner of HomeAdvisor, announced that it had agreed to acquire Angie's List for $8.50 per-share (valuing the company at over $500 million). IAC plans to merge Angie's List and HomeAdvisor into a new publicly traded subsidiary known as ANGI Homeservices.

News

ANGI Homeservices Inc. 2.95% (communication services)

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q4 2020 2021-02-03 Future report Set alerts
Q3 2020 2020-11-04 Future report Set alerts
Q2 2020 2020-08-10 0.02 0.02
Q1 2020 2020-05-06 -0.02 -0.02
Q4 2019 2020-02-05 0.00 0.00
Q3 2019 2019-11-06 0.04 0.04
Q2 2019 2019-08-07 0.01 0.01
Q1 2019 2019-05-08 0.02 0.02
Q4 2018 2019-02-07 0.07 0.07
Q3 2018 2018-11-07 0.05 0.05

Ratings

2016-04-21 Reiterated Rating Pacific Crest Equal Weight
2016-04-20 Reiterated Rating Needham & Company LLC Hold
2016-03-11 Reiterated Rating Pacific Crest Sector Perform
2016-03-07 Reiterated Rating Deutsche Bank Hold
2016-03-07 Reiterated Rating RBC Capital Sector Perform $7.00
2016-03-07 Reiterated Rating Royal Bank Of Canada Sector Perform $7.00
2016-03-07 Reiterated Rating Deutsche Bank AG Hold
2016-03-05 Reiterated Rating Oppenheimer Buy
2016-03-05 Reiterated Rating Roth Capital Hold
2016-03-05 Reiterated Rating Oppenheimer Holdings Inc. Buy
2016-03-04 Reiterated Rating Cowen and Company Market Perform $10.00
2016-02-24 Boost Price Target RBC Capital Sector Perform $6.00 to $7.00
2016-01-28 Initiated Coverage Roth Capital Neutral $8.50
2016-01-07 Reiterated Rating Cowen and Company Market Perform $9.00 to $10.00
2016-01-01 Reiterated Rating MKM Partners Hold $5.00 to $9.50
2015-12-31 Boost Price Target MKM Partners Neutral $5.00 to $9.50
2015-11-12 Reiterated Rating Pacific Crest Hold
2015-11-12 Upgrade Oppenheimer Market Perform to Outperform $13.00
2015-11-11 Reiterated Rating Piper Jaffray Neutral $6.00
2015-11-11 Upgrade Raymond James Underperform to Market Perform
2015-11-11 Reiterated Rating Piper Jaffray Cos. Neutral $6.00
2015-11-11 Upgrade Raymond James Financial Inc. Underperform to Market Perform
2015-10-21 Reiterated Rating Piper Jaffray Hold $6.00
2015-10-21 Reiterated Rating RBC Capital Hold $6.00
2015-07-30 Upgrade Northland Securities Underperform to Market Perform $4.00
2015-07-26 Reiterated Rating Deutsche Bank Hold $6.00
2015-07-23 Lower Price Target MKM Partners Neutral $8.00 to $5.00
2015-07-23 Reiterated Rating RBC Capital Sector Perform $10.00 to $5.50
2015-07-22 Reiterated Rating Cowen and Company Hold $6.50 to $5.00
2015-07-21 Reiterated Rating B. Riley Neutral $7.00
2015-07-16 Reiterated Rating B. Riley Neutral $7.00
2015-06-23 Initiated Coverage Topeka Capital Markets Hold $7.00
2015-04-30 Reiterated Rating B. Riley Neutral $7.00
2015-04-23 Boost Price Target Deutsche Bank Hold $7.00 to $8.00
2015-04-23 Downgrade Northland Securities Market Perform to Underperform $7.25 to $5.50
2015-04-23 Reiterated Rating B. Riley Neutral $7.00
2015-04-16 Reiterated Rating B. Riley Neutral $6.75
2015-04-15 Reiterated Rating RBC Capital Hold
2015-04-08 Downgrade B. Riley Buy to Neutral $12.50 to $6.75
2015-04-01 Reiterated Rating RBC Capital Sector Perform $10.00
2015-03-31 Lower Price Target Wunderlich Hold $8.00 to $6.00
2015-02-26 Reiterated Rating B. Riley Buy $12.50
2015-02-19 Set Price Target Wunderlich Hold $8.00
2015-02-19 Set Price Target Barrington Research Buy $10.00
2015-02-19 Set Price Target Deutsche Bank Hold $7.00
2015-02-19 Upgrade First Analysis Equal Weight to Overweight $10.00
2015-02-19 Reiterated Rating B. Riley Buy $12.50
2015-02-18 Set Price Target Janney Montgomery Scott Hold $8.00
2015-02-18 Set Price Target RBC Capital Sector Perform to Sector Perform $9.00 to $10.00
2015-02-18 Boost Price Target Northland Securities Market Perform $5.75 to $7.25
2015-01-27 Lower Price Target Northland Securities Market Perform $6.50 to $5.75
2015-01-13 Reiterated Rating Oppenheimer Market Perform
2014-10-23 Downgrade Wunderlich Buy to Hold $13.00 to $8.00
2014-10-23 Downgrade Needham Buy to Hold
2014-10-23 Downgrade Raymond James Market Perform to Underperform
2014-10-23 Downgrade Piper Jaffray Overweight to Neutral $12.00 to $7.00
2014-10-23 Downgrade Needham & Company LLC Buy to Hold
2014-10-22 Reiterated Rating Barrington Research Outperform
2014-10-01 Upgrade Northland Securities Under Perform to Market Perform $6.75 to $8.00
2014-09-30 Initiated Coverage Cowen and Company Market Perform $7.00
2014-07-24 Lower Price Target Telsey Advisory Group Not Rated $20.00 to $14.00
2014-07-24 Reiterated Rating Deutsche Bank Hold $13.00 to $7.00
2014-07-24 Lower Price Target Canaccord Genuity Hold $16.00 to $10.00
2014-07-24 Lower Price Target Needham & Company LLC Buy $20.00 to $15.00
2014-07-24 Downgrade Bank of America Buy to Neutral $12.00
2014-07-24 Downgrade MKM Partners Buy to Neutral $16.00 to $8.00
2014-07-24 Downgrade RBC Capital Outperform to Sector Perform $18.00 to $10.00
2014-07-24 Downgrade Janney Montgomery Scott Buy to Neutral $22.00 to $10.00
2014-07-24 Downgrade First Analysis Overweight to Equal Weight $20.00
2014-07-24 Downgrade Oppenheimer Outperform to Market Perform $26.00
2014-07-24 Downgrade Northland Securities Outperform to Under Perform $18.00 to $6.75
2014-07-24 Downgrade Bank of America Corp. Buy to Neutral $12.00
2014-06-11 Upgrade Wunderlich Hold to Buy $15.00
2014-06-06 Upgrade Citigroup Inc. Neutral to Buy $16.00
2014-06-06 Upgrade Bank of America Neutral to Buy $16.00
2014-04-24 Lower Price Target RBC Capital Outperform $21.00 to $18.00
2014-02-13 Downgrade Stifel Buy to Hold $25
2014-02-13 Reiterated Rating Bank of America Neutral $22.00
2014-02-13 Lower Price Target Canaccord Genuity Hold $22.00 to $16.00
2014-02-13 Lower Price Target Telsey Advisory Group Not Rated $26.00 to $20.00
2014-02-13 Lower Price Target Oppenheimer Outperform $24.00 to $21.00
2014-02-13 Reiterated Rating RBC Capital Outperform $21.00
2014-02-13 Downgrade Stifel Nicolaus Buy to Hold $25.00
2014-02-13 Downgrade Raymond James Strong-Buy to Market Perform $23.00
2014-02-05 Downgrade Bank of America Buy to Neutral $18.12 to $22.00
2014-02-03 Upgrade Barrington Research Market Perform to Outperform
2014-01-24 Upgrade B. Riley Neutral to Buy $15.00 to $25.50
2014-01-09 Upgrade Raymond James Outperform to Strong-Buy $23.00
2013-10-24 Lower Price Target Wunderlich Hold $25.00 to $15.00
2013-10-24 Reiterated RBC Capital Mkts Outperform $29 to $24
2013-10-24 Reiterated Northland Capital Outperform $33 to $25
2013-10-24 Lower Price Target MKM Partners Buy $34.00 to $24.00
2013-10-24 Lower Price Target Deutsche Bank Hold $26.00 to $16.00
2013-10-24 Lower Price Target Raymond James Outperform $29.00 to $23.00
2013-10-24 Lower Price Target Needham & Company LLC Buy $30.00 to $24.00
2013-10-24 Lower Price Target Canaccord Genuity Hold $25.00 to $22.00
2013-10-24 Reiterated Rating Stifel Nicolaus Buy $31.00 to $25.00
2013-10-24 Lower Price Target Northland Securities Outperform $33.00 to $25.00
2013-10-24 Lower Price Target RBC Capital Outperform $29.00 to $24.00
2013-10-24 Downgrade B. Riley Buy to Neutral $32.00 to $15.00
2013-10-21 Reiterated Rating Northland Securities In-Line
2013-10-03 Initiated Coverage MKM Partners Buy $34.00
2013-10-03 Reiterated Rating Stifel Nicolaus Buy $31.00
2013-09-19 Reiterated Rating Needham & Company LLC Buy $30.00
2013-09-17 Initiated Coverage Telsey Advisory Group Not Rated $29.00
2013-09-06 Reiterated Deutsche Bank Hold $27 to $26
2013-07-25 Reiterated RBC Capital Mkts Sector Perform $22 to $28
2013-07-19 Reiterated Oppenheimer Outperform $25 to $30
2013-06-21 Reiterated Stifel Buy $29 to $31
2013-06-13 Initiated Wunderlich Hold $25
2013-04-25 Reiterated Deutsche Bank Hold $18 to $23
2013-04-23 Reiterated Needham Buy $20 to $24
2013-04-05 Initiated National Alliance Capital Mkts Accumulate $21.37
2013-02-15 Downgrade Barrington Research Outperform to Mkt Perform
2013-02-14 Reiterated RBC Capital Mkts Sector Perform $17 to $18
2013-02-14 Reiterated Oppenheimer Outperform $15 to $18
2013-02-14 Reiterated Needham Buy $13 to $20
2012-11-27 Initiated Northland Securities Outperform $15
2016-04-21 Reiterated Rating Pacific Crest Equal Weight
2016-04-20 Reiterated Rating Needham & Company LLC Hold
2016-03-11 Reiterated Rating Pacific Crest Sector Perform
2016-03-07 Reiterated Rating Deutsche Bank Hold
2016-03-07 Reiterated Rating RBC Capital Sector Perform $7.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
TRI Ventures, Inc. 19.92%  (11657775) ANGI /
Chuang John H. 19.92%  (11657775) ANGI /
Oesterle William Seelye Chief Executive Officer 3.43%  (2009658) ANGI /

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